Even with Bitcoin up for the week, Dogecoin is the biggest loser in the top 10 cryptocurrencies, and other meme coins have also performed poorly.
Cryptocurrency markets have experienced intense volatility since Bitcoin surpassed the $100,000 mark for the first time on December 4, with multiple declines sending shockwaves that sank other assets and accumulated liquidations in the process.
But while Bitcoin has mostly recovered from the considerable drops, Dogecoin has lost significant momentum over the past week since it peaked at $0.48 for the first time since 2021.
At a current price just below $0.39, Dogecoin has dropped nearly 19% from that peak seen at the end of December 7. And in the last seven days, including data from the hours leading up to that recent high, DOGE has declined by 15%.
This makes it the biggest loser among the top 10 cryptocurrencies by market capitalization, surpassing Cardano with a 13% drop during that period, and Solana with a 10% correction. Bitcoin is the only asset in the top 10 that is green for the week, up 0.7% at the time of writing this article at a current price of $100,995.
Looking beyond the top 10, other leading meme coins in the top 100 cryptocurrencies have recorded even sharper losses over the past week. Dogwifhat (WIF) is the biggest loser in the top 100, with a 28% drop during that period, while Bonk (BONK) has fallen by 23%, Brett (BRETT) is down 22%, and Shiba Inu (SHIB) has matched DOGE's decline at 15%.
Overall, the cryptocurrency market has fallen 3% in the last 24 hours, according to data from CoinGecko.
